Money and Finance - Experts and Resources

Why You Should Make Nice With Your Ex

Being kind after divorce makes a big difference

Posted to by Maryann Kelly on Fri, 01/25/2013 - 9:14am

Investing in your ex can pay huge dividends. Yes, you heard me right. Of course, I'm excluding any ex who was abusive or unsafe in any way, including one you still love.

My husband left, but I wasn't in love with him when we divorced. I didn't hate him either. I just accepted that we weren't compatible and that divorce was a change for the better. We had two small children, so I wanted to have good relations with him to make the situation easier for the kids. 

Keeping the relationship peaceful will reduce stress that could otherwise cause mental and physical health problems. Keep in mind, stress can also hurt you financially, if you become incapacitated due to health ailments. Also, staying on good terms will reduce or eliminate costly trips back to court to hash out problems; hiring lawyers can be like taking a match to your savings. 

Here are some ways to stay on good terms with your ex:

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6 Mistakes to Avoid in the Divorce Settlement Process

Posted to by Cathy Meyer on Wed, 01/09/2013 - 9:14am

Maintaining your financial security is one of your most important considerations when faced with divorce. Your main concern should be negotiating the best possible settlement agreement — one you know you can live with after the ink dries on your divorce decree.

There are many steps you can take to ensure you will come through the process financially secure. Below is a list of some commonly made mistakes when negotiating a divorce settlement — make sure you don't fall victim to them!

1. Never agree to a termination date for spousal support or alimony if the law does not require it. Make sure the wording in your divorce decree states that this issue has to be revisited in court before payments can stop. You may continue to need financial assistance from your ex-spouse past a date in your decree. You want to have the option of arguing against modification of support in court.

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Reclaim Your Personal Power After Divorce

Posted to by Dr. Fern Kazlow on Sat, 01/05/2013 - 8:43am

Giving away our power and authority is something we learn early in life. Milestones in our life, including divorce, offer an excellent opportunity to reclaim it.

When I was asked to write for Firstwivesworld, I was excited to connect with you and share my passion — helping you create the financial success, the fun, freedom, and fulfillment you desire.

While I have helped tens of thousands of people do this, and have the professional credentials to do so, claiming my own authority is my most important qualification. And as necessary as it has been for helping me to create my life, finding and owning your authority will help you create yours.

It All Began On An Elevator

One of my most crucial life lessons began innocently enough in an elevator with a close friend when I was in my late twenties. The door to the elevator had closed and we weren't moving. Elaine said to me, "You didn't press the button." I nodded, mumbled, and pressed the button.

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Cost Saving Tips To Zip Up Your House For The Winter

Zip your pocketbook shut!

Posted to by First Wives World on Sat, 12/08/2012 - 12:40pm

Anyone living north of the 36th latitude (Virginia) is going to have to deal with cold nights and big heating bills. I have to heat my house in the winter even in Miami, and folks in the desert Southwest have to pour on the heat for those nippy nights.

It would be handy to have a guy around to do all those handyman things, but if you’re going through divorce, and still living in the drafty family home, you’re going to have to do them yourself. And you can really save money this way.

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How to Pay for Your Education After Divorce

Posted to by First Wives World on Sat, 11/17/2012 - 8:30am

We've received letters from divorced women asking how best to go about paying for their education in order to become better positioned for new career opportunities. This is a question that many divorced women face when they are re-entering the workplace.

Common solutions:

The obvious solution is to borrow money to pay for tuition and related expenses. Most colleges and universities have a financial aid office prepared to provide students (and prospective students) with information about local, regional and national programs.

Some programs are available to students regardless of the school they attend, others are school-specific, and some are specific to a particular discipline. The financial aid office can help you navigate.

A word to the wise about borrowing: Remember that borrowed money must be repaid, so borrow wisely and spend carefully only for the purpose intended. Even though student loans are often at low interest rates and can be repaid over the longterm, interest accumulates over time and can greatly increase the amount borrowers owe.

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Get More From Your Money Post Divorce

Posted to by Jean Chatzky on Sat, 11/10/2012 - 8:13am

After divorce, your financial life will need tweaking. Even if investing has presented a roadblock in the past, it's now one you're ready to conquer.

Here are some tips:

• Every time you get a raise, increase your contributions into your retirement and other savings accounts. Bonuses, tax refunds, and inheritances are all an invitation to rejigger as well. Anyone who has done an outstanding job of accumulating wealth will tell you how important this strategy is. Give your own savings a raise every time you get one, and put at least part of every windfall to work for you.

Say it and sound smart: “I'm putting 75 percent of my bonus away for the future. I hope we'll have a lot more years like this one, but if this is the end of the gravy train, I don't want to spend the money and regret it.”

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Financial Literacy For Divorce Women

with Sanyika Calloway Boyce

Posted to by Debbie Nigro on Tue, 10/30/2012 - 8:21am

Did you know that most employers are more interested in your FICO score than your college GPA? Do you want to learn the truth about how to achieve financial independence? Listen as Debbie chats with Financial Expert Sanyika Calloway Boyce and learns all the money matters they didn't teach you in school.

Click the following to return to the directory for Your Finances and Divorce.

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